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GM, Koenigsegg sign deal on Saab sale

General Motors Co. reached a deal Tuesday to sell its money-losing Swedish subsidiary Saab to Koenigsegg Group AB. The companies signed a stock purchase agreement that would give the tiny Swedish supercar maker 100 percent of Saab's shares, GM Europe said in a statement.

Is this the new Lexus RC F Coupe?

Is this the new Lexus RC F Coupe? These could be Photoshops based on the Lexus LF-CC – which previewed the new IS – but they do have the feel of being real, and if they are then Lexus is delivering up an RC Coupe that’s pretty faithful to the LF-CC Concept and which promises to be a real competitor for the BMW M3. Under the bonnet of the RC F is expected to be a 5.0 litre V8 delivering around 455bhp and 400lb/ft of torque, complete with cylinder deactivation for more frugal running when you’re not wringing the neck of the V8, and mated to an eight-speed auto ‘box with flappy paddles and three driving modes.

Ford lines up Mark Fields to succeed Alan Mulally

Ford Motor Co. has named Mark Fields its chief operating officer, putting him in line to succeed CEO Alan Mulally when he retires no sooner than the end of 2014. The appointment of Fields, 51, who has been president of Ford's Americas unit, was part of a sweeping overhaul of executive ranks unveiled Thursday.